Bad credit mortgage - Reliable help

In general the price of property doubles every ten years. Despite recessions and increased interest rates, it seems nothing stops the property boom. Which is all very well if you have a property already, but what if you haven't and you have a bad credit history? Are you doomed to a lifetime of wasting money on rent?

Bad credit mortgage designed for you

The answer is no. Now you may be able to take out a bad credit mortgage, which allows you to buy a property despite your debt or bad credit history. A bad credit mortgage is specifically designed for people who don't fit the conventional criteria of the high street bank. But taking out a bad credit mortgage, just like any mortgage is a big responsibility and it's important you choose a financial company that can advise you and inform you of the choices you have.

What's the difference?

A bad credit mortgage is exactly the same as a normal mortgage except that you might have to pay slightly higher rates and there may be some contractual obligations such as being tied into the lender for longer than normal. This is because the lender is taking on a bigger risk lending to somebody with bad credit. But the fact that the bad credit mortgage market is booming means there are some extremely competitive packages out there. However, you need to choose a company that has access and a knowledge of a wide range of products from the vast and complicated bad credit mortgage market*. That way they can broker you the best value product out there that suits your financial circumstances.

Advice for financial security

If you are looking for a bad credit mortgage it's important to get professional mortgage advice - a good consultant will take time to look at your financial situation and work out the best products for you. This often means a consultant will arrange a meeting with you and go through:

Current debts
Current income
Current repayments made
General expenditure
Price of the property you want to buy

This determines the affordability of a bad credit mortgage, and using a regulated advisor means you can be sure you will receive fair and professional advice.

Homebank have qualified mortgage consultants ready to advise you with your mortgage and insurance needs. For informative and insightful bad credit mortgage advice, call us to arrange a no obligation appointment to suit you. Homebank are the 'people's mortgage broker' with over 2900 mortgage products to choose from, including products that are not readily available on the High Street. Homebank's experienced consultants could find the ideal product for you - call Homebank now on freephone 0800 052 3604.

The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.

Homebank Financial Services Limited is an appointed representative of The Willow Tree Management Company UK Ltd which is authorised and regulated by the Financial Services Authority.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured on it.
For mortgage related services the fee will typically be 1.79% of the mortgage advance applied for, minimum fee of �750. In addition, there may be a valuation administration fee of up to 0.7% of the loan amount. For example if you take out a loan of £50,000 you will need to pay a total of up to £1,245; comprising of the broker fee of £895 and the valuation administration fee of up to £350. This in addition to any commission we may recieve from the lender. Broker fees may be added to the mortgage.

Not all Buy To Let mortgages are regulated by the Financial Services Authority
Adverse Credit - The overall rate for comparison is 9.2% APR. The actual rate available will depend upon your circumstances. Ask for a Key Facts Illustration
Right To Buy Mortgages - The overall rate for comparison is 8.9% APR. The actual rate available will depend upon your circumstances. Ask for a Key Facts Illustration

CURRENCY MORTGAGES - CHANGES IN THE EXCHANGE RATE MAY INCREASE THE STERLING VALUE OF YOUR DEBT.
Homebank Financial Services Limited is entered on the FSA register under reference number 464724, as an appointed representative of The Willow Tree Management Company UK Ltd, who are also registered under the FSA register under reference number 310569.